Appeal on Schroders' win

$2bn Polish telecoms deal angers rival bankers.

By

William Wright

February 9, 1998 5:00 p.m. GMT

Deutsche Morgan Grenfell and Credit Suisse First Boston are expected to launch an appeal today to the Polish Treasury Ministry, asking the government to reconsider its decision last week to appoint Schroders to manage the privatisation of Polish Telecom (TPSA).

Rival bankers are furious that the Polish ministry picked Schroders for the $2bn deal - the biggest ever in Central Europe. One claimed that Schroders did not come top in the government's notoriously strict technical scorecard, which is usually used to appoint banks...